Connect with us

Metro News

Three Tiers Of Govt Share N510.2bn In August

Published

on

kemi-adeosun-minister-of-financeThe Minister of Finance, Kemi Adeosun, on Tuesday in Abuja, said N510.2 billion was shared among the federal, states and local governments as revenue realised in August.

She made the disclosure while addressing a news conference on the outcome of the Federation Account Allocation Committee, FAAC.

The amount is higher than the N493.6 billion shared in July by N16.6 billion.

The minister said that during the month, N315 billion was generated as statutory distributable revenue, adding that this was higher than the N287.8 billion received in the previous month by N27.22 billion.

She added that “the sum of N6.3 billion was refunded to the Federation Account by Nigerian National Petroleum Corporation (NNPC).

“There is a proposed distribution of N35 billion Excess Petroleum Profit Tax.

“Also, there was the exchange gain of N84.2 billion proposed for distribution”.

She also said that Value Added Tax (VAT) was N75.9 billion as against N66.9 billion generated in July, indicating an increase of N8.9 billion.

She added that mineral revenue for the month was N158.7 billion, while that of July was N119.4 billion. Non-mineral revenue for August was N156.3 billion and that of July was N168.4 billion.

Giving the breakdown of revenue among the three tiers, Mrs. Adeosun said the Federal Government received N187.3 billion, representing 52.68 per cent, while states got N95.0 billion, representing 26.72 per cent.

Local governments, she said, received N73.2 billion, amounting to 20.60 per cent of the amount distributed, while N18.4 billion, representing 13 per cent derivation revenue, was shared among oil producing states.

According to her, crude oil export volume increased by 2.2 million barrels in May in spite of the brief Force Majeure declared at Qua Iboe and Bonny Terminals.

She also said that there was $109 million revenue increase in federation export sales as a result of the increase in average price of crude oil from 42.2 dollars in April to 46.0 dollars per barrel in May.

She said there was a rise in dutiable imports which contributed significantly to the increase recorded by import duty and VAT.

The minister said that the balance of the excess crude account stood at $2.91 billion.

(NAN)

 

Metro News

Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu

Published

on

Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu

Governor Wike

Governor Nyesom Wike of Rivers State has imposed a 24-hour total curfew for two weeks on some parts of Port-Harcourt, the state capital.

The Governor made this known during a broadcast on Sunday where he noted that the curfew begins from Monday 23rd November 2020.

The statement noted that the upsurge noticed by the state government in cases of cult activities, other forms of violence, and killings is responsible for the curfew.

Also Read: Umahi Unhappy With PDP Because Atiku Picked Peter Obi – Wike

Wike in the statement declared that the entire area along and around the Okoro-nodu flyover up to a one-kilometre radius from Saint Emmanuel Anglican Church, Rumuokoro, extending to the Rumuodomaya Slaughter and Local Government daily market will be affected.

He added that no form of trading, human or vehicular movement is allowed in the affected areas until further notice.

Continue Reading

Metro News

Zamfara Governor Secures Release Of 11 Kidnapped Victims

Published

on

Zamfara Governor Secures Release Of 11 Kidnapped Victims

Bello Matawalle

Governor of Zamafara, Bello Matawalle has announced the release of 11 kidnapped victims.

According to reports, ten of the victims were male and a female from Bukkuyum Local Government Area.

Matawalle received the rescued kidnapped victims on Saturday night at the Government House in Gusau, the state capital.

The Commissioner of Security and Home Affairs, Abubakar Muhammed Dauran revealed that the victims were released without paying a ransom.

Also Read: Nigeria still needs SARS, Zamfara gov, Matawalle insists

He stated they were released as a result of the peace initiative and stakeholders meeting summoned by Governor Matawalle with all critical stakeholders from Bukkuyum Local Government Area on Thursday.

Governor Matawalle assured that his administration will not rest on its oars until total peace is achieved in all parts of the state.

 

Continue Reading

Metro News

Police Confirm Abduction Of Nasarawa APC Chairman

Published

on

Police Confirm Abduction Of Nasarawa APC Chairman

Police

The Chairman of the All Progressives Congress (APC) in Nasarawa State, Philip Shekwor, has been kidnapped by unknown gunmen.

According to reports, Shekwor was abducted on Saturday night at his residence along Dunamis church, Bukan Sidi in Lafia.

Also Read: Gunmen Attack Police Station In Ibadan; Kill Police Corporal

Confirming the incident, Police Commissioner Bola Longe said the unidentified gunmen in large number stormed the residence of the APC chairman in Lafia around 11 pm and took him away to an unknown destination.

According to him, security agencies had reacted swiftly by deploying personnel to different forest locations to ensure the safe release of the APC chieftain.

Continue Reading

Trending